Providence Revolving Fund Inc.
Providence Revolving Fund Inc.
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About this organization
Mission
To preserve the architectural heritage of Providence and stimulate community revitalization.
About
Neighborhood loan program - The organization provided loans and technical services to property owners citywide with emphasis on the low and moderate income neighborhoods in Broadway-Armory, North Elmwood, South Elmwood, Bridgham-Arch, and Upper South Providence historic districts. Staff prepared cost estimates for 32 properties and exterior specifications for 16 houses, and monitored 19 restorations. Ten new loans to owner-occupied residential homes were closed for house restorations in the Broadway-Armory, Edgewood, and North & South Elmwood historic districts, totaling $261,500 of investment resulting in the rehabilitation of 21 residential units of historic housing. Eight neighborhood loan projects were completed in 2019. The organization also made one loan totaling $105,000 for neighborhood-based commercial loans.
Interesting data from their 2019 990 filing
The non-profit's aim, as indicated in the filing, is “To preserve the architectural heritage of providence and stimulate community revitalization through advocacy, lending and development in historic areas.”.
When referring to its functions, they were specified as: “To preserve the architectural heritage of providence and stimulate community revitalization.”.
- The non-profit has reported their operating state as RI, as required by law.
- As stated in the filing, the non-profit's address in 2019 was 372 WEST FOUNTAIN STREET, PROVIDENCE, RI, 02903.
- The non-profit's form reports a total of 0 employees as of 2019.
- Is not a private foundation.
- Expenses are between $500,000 and $1,000,000+.
- Revenue is between $500,000 and $1,000,000+.
- Revenue less expenses is $139,272.
- The organization has 14 independent voting members.
- The organization was formed in 1980.
- The organization pays $360,786 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
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